Re: 2006 merc. low rpms.
What does your owners manual say? I would think 5500 would be closer to normal, but Mercury probably says that is within range. I think your prop may be a little too much. Maybe drop down to 141/2-15X17 and that would give you about 200 more rpm.
Where is the cavatition plate in reference to the "V" botom of the boat? Should be about even.